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![Next100Baggers Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1760732748925263872.png) Next XXX Baggers [@Next100Baggers](/creator/twitter/Next100Baggers) on x 6099 followers
Created: 2025-07-26 13:55:39 UTC

Consistent baseline, but  $XXX M/quarter = XXX% share reduction a year, just half the XXX% dividend yield and barely offsetting dilution from M&A and employee grants.

Here’s how I’d think about real buyback alpha:
- NAV premium/discount: step on the gas if BLK’s NAV discount to US ETF peers widens >200 bps, that’s your opportunity zone.
- FCF conversion: target >80% free cash flow conversion; if it holds, bump repurchases to $XXX M+ in that quarter without starving the business.
- AUM & fee margin stability: strong post-iShares AUM growth and stable fee margins give management the runway to be opportunistic.

True EPS accretion comes from a flexible, metrics-driven cadence, not just Q2 on repeat.


XXX engagements

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**Related Topics**
[cash flow](/topic/cash-flow)
[fund manager](/topic/fund-manager)
[nav](/topic/nav)
[dividend yield](/topic/dividend-yield)

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